Common use of Deposited Redemption Moneys Clause in Contracts

Deposited Redemption Moneys. Moneys held by the --------------------------- Indenture Trustee for redemption of any Secured Note issued hereunder as provided in this Article III shall be held by the Indenture Trustee as a separate fund in trust for the account of the respective Holders of the Secured Notes to be redeemed, shall be invested in accordance with the provisions of Section 7.04 and shall be delivered to them respectively in accordance with Section 2.03 on the Redemption Date. Any amounts so held by the Indenture Trustee shall be deemed paid for purposes of Section 2.09, and promptly after payment of all amounts of principal of, Make-Whole Amount, if any, and interest on, and all other amounts due and payable under any such Secured Notes, the Holders thereof shall deliver such Secured Notes to the Indenture Trustee for cancellation.

Appears in 4 contracts

Samples: Lease and Security Agreement (Mobil Corp), Lease, and Security Agreement (Mobil Corp), Lease and Security Agreement (Mobil Corp)

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Deposited Redemption Moneys. Moneys held by the --------------------------- Indenture Trustee for redemption of any Secured Note issued hereunder as provided in this Article III shall be held by the Indenture Trustee as a separate fund in trust for the account of the respective Holders of the Secured Notes to be redeemed, shall be invested in accordance with the provisions of Section 7.04 and shall be delivered to them respectively in accordance with Section 2.03 on the Redemption Date. Any amounts so held by the Indenture Trustee shall be deemed paid for purposes of Section 2.09, and promptly after payment of all amounts of principal of, Make-Make- Whole Amount, if any, and interest on, and all other amounts due and payable under any such Secured Notes, the Holders thereof shall deliver such Secured Notes to the Indenture Trustee for cancellation.

Appears in 2 contracts

Samples: Lease and Security Agreement (Mobil Corp), Lease and Security Agreement (Mobil Corp)

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